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Feeder and live cattle futures weakened after Labor Day, with October feeders near $230 per cwt. Pasture deterioration has prompted expectations of earlier marketings, while Nebraska feeder cattle prices rebounded strongly.
Pasture stress pushing cattle to market earlier adds near-term supply, while cheap feed and a large hay crop limit downside.
cap.unl.eduSep 10, 2024After 18 past bearish weather events, Live Cattle moved a median +0.1% over 5 sessions (56% higher; middle half -0.7% to +0.9%), and -0.1% over 20.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 29 past bearish weather events, Feeder Cattle moved a median +0.5% over 5 sessions (62% higher; middle half -0.5% to +2.6%), and +2.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
